Customer Relationship Management Market to Reach USD 96.39 billion by 2027 | Size, Future Growth, Key Factors and Market Players.


Posted August 16, 2023 by Tejal26

According to the report published by Allied Market Research, the global customer relationship management market generated $41.93 billion in 2019 and is projected to generate $96.39 billion by 2027, manifesting a CAGR of 11.1% from 2022 to 2027

 
According to the report published by Allied Market Research, the global customer relationship management market generated $41.93 billion in 2019 and is projected to generate $96.39 billion by 2027, manifesting a CAGR of 11.1% from 2022 to 2027. The report provides an extensive analysis of changing market dynamics, major segments, the value chain, competitive scenarios, and the regional landscape. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for economic growth and gaining a competitive edge in the market.

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Covid-19 Scenario:

➢ The COVID-19 pandemic had a significant impact on businesses all over the world. Due to disruptions in production units, supply chains, labor and personnel availability, and the temporary closing of cross-country borders. As a result, businesses adopted policies allowing employees to work from home.

➢ However, companies have noticed a growing demand for customer support techniques to enable smooth communication between employees and customers. Intelligent cloud-based CRM would provide consolidated and analyzed data from a variety of sources inside and outside the databases by automating these solutions,

➢ Due to the above-mentioned factors, customer relationship management adoption will reach its peak in the coming decades, opening significant opportunities for both established companies and start-ups.

The research offers detailed segmentation of the global customer relationship management (CRM) market based on component, organizational size, application, deployment mode, industry vertical, and region. With the help of tables and figures, the report goes over segments and their sub-segments in detail. Market participants and investors can plan their strategies based on the fastest-growing and highest revenue-generating segments identified in the report.

Based on component, the software segment held the largest market share in 2019, accounting for more than three-fifths of the global customer relationship management (CRM) market revenue, and is anticipated to maintain its leadership status throughout the forecast period. However, the service segment would display the fastest CAGR of 12.6% from 2020 to 2027.

Based on deployment model, the cloud segment held the major share in 2019, garnering more than three-fifths of the global customer relationship management (CRM) market revenue, and is projected to rule the roost by 2027. The same segment would also exhibit the fastest CAGR of 11.8% during the forecast period. The on-premise and hybrid segment is also discussed in the report.

➢ Access the full summary at: https://www.alliedmarketresearch.com/crm-software-market

Based on applications, the customer service segment held the largest major share in 2019, contributing to more than one-fourth of the global customer relationship management (CRM) market, and is expected to lead the position in terms of market revenue from 2020 to 2027. However, the CRM Analytics segment would cite the fastest CAGR of 15.5% during the forecast period. Customer experience management, marketing automation, salesforce automation, and others segment are also studied in the report.

Leading Market Players

➢ Avaya.

➢ Sap Se

➢ Ibm Corporation

➢ Sas

➢ Nice Limited

➢ Verint Systems

➢ Oracle Corporation

➢ Salesforce

➢ Adobe Inc.

➢ Zendesk Inc.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market

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Categories Software , Technology
Tags customer relationship management market , customer relationship management market size , customer relationship management market growth , customer relationship management market trends , customer relationship management market forecast , customer relationship management
Last Updated August 16, 2023